Strike impact batters Kroger in fiscal 4Q
Jul 1, 2004 12:00 PM
The Kroger Co reported a net loss of $337.4 million for the fourth quarter ended Jan 31, 2004. Net earnings in the same period a year ago were $381.0 million.
The Cincinnati OH-based supermarket chain estimates the recently resolved labor dispute affecting stores in Southern California, as well as a work stoppage in West Virginia that ended in mid-December, reduced earnings by $156.4 million after tax during the quarter.
Total sales for the 12-week fourth quarter of fiscal 2003 increased 4.5% to $13.0 billion, including stores affected by the labor disputes.
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